Update: Acxiom 2Q Earnings Drop 40 Percent; Company Plans to Cut Costs

by Luke Jones and Lance Turner  on Wednesday, Nov. 6, 2013 5:19 pm  

Jenson said Acxiom would invest its savings from the cost-cutting effort into other parts of the company.

Acxiom employs about 2,000 people in Arkansas and more than 6,000 worldwide. In February, the company confirmed that a reorganization resulted in "less than 100" jobs being cut companywide, with "fewer than 50" in the state. In August, the firm let 20 go in its marketing department. 

An Acxiom spokesman did not return calls for comment late Wednesdsay.

The company noted other quarterly highlights:

  • In early September it launched AboutTheData.com, a consumer portal allowing individuals to research the data that Acxiom has collected on them.
  • It repurchased about 900,000 shares for $22.7 million. Since August 2011, when Acxiom started its share repurchase program, it has repurchased 12 million shares, about 14.6 percent of its common stock, for $179 million.
  • The company announced a $600 million refinancing of its credit facilities consisting of a $300 million term loan and a $300 million undrawn revolving credit facility, both maturing in October 2018. The proceeds of the term loan were used to repay the company's existing $215 million term loan and for other general corporate purposes.

 

 

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